PHD.L Share News (PHD)

(Sharecast News) - Spend management solutions provider Proactis Holdings said on Wednesday that its progression over the six months ended 31 January had been "strategically significant".
Proactis reported "encouraging commercial traction" and growing pipelines in its operations in France, Germany and the US under the firm's new go-to-market strategy.

As a result, Proactis believes that its strategy was validated and said it was now confident of recording "sustainable momentum and progression" in the second half of the year and beyond.

The AIM-listed group expects to report revenues for the six-month period of £23.7m, a slight drop on the £24.5m reported a year earlier, while projected adjusted underlying earnings of £6.2m were ahead of the £5.6m recorded twelve months ago.

New business deal intake for the period was "strong", with total contract values of £6.7m despite the persistence of Covid-19 related headwinds.

Looking forward, Proactis expects to be able to report performance in line with expectations for the period but stated it was still conscious of the ongoing impact that Covid-19 was having across the business.

As of 0920 GMT, Proactis shares were up 1.10% at 46.0p.